Albertsons Cos. Q2 Results Top Estimates

Kroger Now Plans To Cut Grocery Prices By $1 Bln Upon Albertsons Merger

Supermarket chain Kroger Co., amid the ongoing regulatory hurdles in its proposed $25 billion merger with Albertsons Cos., now plans to cut grocery prices by $1 billion, upon the closure of the deal, Bloomberg reported. This is double the $500 million cut in prices the company announced, while the merger deal was revealed in 2022. The supermarkets also plan to spend $1 billion to increase...

RTTNews | 418 dias atrás

FTC, States Sue To Block Kroger's $24.6 Bln Albertsons Deal

The Federal Trade Commission or FTC along with a group of nine attorneys general have filed a lawsuit to block Kroger Co.'s proposed $24.6 billion acquisition of the Albertsons Companies, Inc., alleging that the deal is anticompetitive. In the move, FTC alleges that the planned merger, which would be the largest among supermarkets in U.S. history, will eliminate competition and raise grocery

RTTNews | 589 dias atrás

More Products With Cheese From Rizo Lopez Recalled Over Listeria Concern

Amid the ongoing Listeria monocytogenes outbreak, more and more products containing tainted cheese and other ingredients supplied by Rizo Lopez Foods Inc. are being recalled, according to the U.S. Food and Drug Administration. Fresh Creative Foods, a division of Reser's Fine Foods, Inc., has called back certain products, and Simply Fresh LLC. has recalled Rojo's Black Bean 6 Layer Dip.

RTTNews | 608 dias atrás

Albertsons Cos. Q3 Results Top Estimates

Food and drug retailer Albertsons Companies, Inc. (ACI), which has agreed to a merger with Kroger, reported Tuesday that profit for the third quarter plunged from last year, hurt by a special dividend payment related to the Kroger. However, both adjusted earnings per share and quarterly revenues topped analysts' estimates.

RTTNews | 1002 dias atrás

Kroger Says Will Work Cooperatively With The FTC On Second Request On Albertsons Merger

The Kroger Co. (KR) said on Tuesday it has received a request for additional information (second request) from the Federal Trade Commission or FTC as part of the regulatory review process for its merger with Albertsons Companies, Inc. (ACI).

RTTNews | 1037 dias atrás

European Shares Inch Higher; Banks Lead Gains

European stocks rose slightly on Wednesday, with banks and energy stocks leading the surge despite ongoing political crisis in France and U.S. government shutdown worries.

RTTNews | 43 minutos atrás

Asian Markets Slide As Tech Stocks Drop On Valuation Concerns

Asian stocks ended mostly lower on Wednesday after Wall Street's main indexes pulled back from record highs overnight on the back of mixed messages from Federal Reserve officials on the pace on interest-rate cuts and concerns about a bubble forming around artificial intelligence.

RTTNews | 1 h 11 min atrás

New Zealand Cuts Rate By 50 Bps; Signals More Easing

The Reserve Bank of New Zealand reduced its benchmark rate at a steeper-than-expected pace on Wednesday and signaled further reductions. The Monetary Policy Committee, chaired by Christian Hawkesby, decided to cut the overnight cash rate by 50 basis points to 2.50 percent, the lowest since July 2022. The reduction was steeper than the quarter-point cut anticipated by economists.

RTTNews | 2 h 8 min atrás

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